Most companies are struggling to create a blueprint for the customer journey in a sea of changing customer preferences.The solution lies in a combination of Living Services, advanced analytics, consistency and responsiveness. Companies must “listen” well—but selectively for insight—which is an art as well as a science.
Two questions that Financial Services companies ask are: “How is fintech going to impact what we do?” and “What should we do to prepare for the disruption from fintech companies?” This paper adds a third: “How does technology innovations developed by these new companies benefits us”. This reportattempts to answer these questions.
Automation, digital platforms, and other innovations are changing the fundamental nature of work. Understanding these shifts can help policy makers, business leaders, and workers move forward.
The report ispublished by the World Economic Forum within the framework of The Global Competitiveness and Risks Team.
The post-crisis regulatory frameworks have been gradually settling into place, but is now obvious that the accelerating pace of technological change is the most creative force—and also, the most destructive one—in the financial services ecosystem today. This papersets out to capture the real world implications of these technological advances on the financial services industryand those who must supervise and use it.
The entry to the market of disruptive “born digital” companies has both changed consumers’ expectations and disrupted incumbents’ business models, paving the way for a generalized Digital Transformation momentum across companies worldwide. At the heart of this disruption lies a superior ability to analyze data and to continuously deliver actionable information and superior customer experiences. This is the reason why 94% of European IT and Line of Business leaders say they understand today the value of information.